DARDEN RESTAURANTS (DRI)

DC Advisory
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ANNUAL

QUARTERLY

MOST RECENT CONFERENCE CALL TRANSCRIPT

https://seekingalpha.com/article/4613086-darden-restaurants-inc-dri-q4-2023-earnings-call-transcript

PLUS SLIDE PRESENTATION

https://seekingalpha.com/article/4613087-darden-restaurants-inc-2023-q4-results-earnings-call-presentation

Company Guidance for Fiscal Year ending May ’24

Below is the full year financial outlook for fiscal 2024 which includes Ruth’s Chris operating results, but excludes approximately $55 million, pre-tax, of expected transaction and integration related costs associated with the acquisition.

  • Total sales of $11.5 to $11.6 billion
  • Same-restaurant sales growth of 2.5% to 3.5%
  • New restaurant openings of approximately 50
  • Total capital spending of $550 to $600 million
  • Total inflation of 3% to 4%
  • An effective tax rate of approximately 12% to 12.5%
  • Adjusted diluted net earnings per share from continuing operations of $8.55 to $8.85, excluding approximately $0.34, after-tax, of Ruth’s Chris integration related expenses*
  • Approximately 121.5 million weighted average diluted shares outstanding